China’s State Administration of Foreign Exchange has waived interbank transaction fees for a basket of 12 currencies, not including those of countries with whom China has tenuous relations. Photo: AP
China omits US dollar from forex trading fee waivers in bid to bolster yuan
- China’s exchange regulator says waiving of transaction fees supports the national belt and road strategy, but Chinese banks still mainly use the US dollar in cross-border deals
- The euro, British pound, Japanese yen, Hong Kong dollar and Australian dollar are also not exempt from trading fees
China’s State Administration of Foreign Exchange has waived interbank transaction fees for a basket of 12 currencies, not including those of countries with whom China has tenuous relations. Photo: AP
